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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
 The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. However, in most cases tonnage supply has been more than enough to meet demand and rates have been moving sideways as a result.
At the same time the CPP markets are not supporting the situation at all, while a trade war between China and USA is having its own effect in certain routes. Additionally, changes on import/export taxes in the regional palm oil market are also shaping the cargo flow.
As things stand, fundamentals in the veg oil market ex- South America are in charterers favour. CPP freights in the West have been in the doldrums and this is having an effect on veg oil freights as well, as several CPP owners try to find leverage on alternative markets. In addition, an increased import of CPP into Argentina/Brazil is building a long tonnage list in the South Atlantic. As if there were not enough negative factors in the market, the threat of China imposing import taxes on US agricultural products, including soy beans, is causing additional headache to traders.
The tax, which is considered a countermeasure on taxes already imposed by US on several products imported from China, is making traders cautious. This is to say that while soybean price from US has depreciated, the premium gained on the back of it by the soybean price from Argentina and Brazil, has in many cases made the product too expensive for the local crushers to buy. For the record, freight rates are still moving sideways at last done levels, USD mid-30s pmt bss 2/2 (South America/ India) on min 40,000mt.
Freight rates from the Black Sea are currently under pressure. While there is a steady flow of cargoes, the poor CPP market is pushing more Handy and MR tankers to look at loading sunflower oil from the Black Sea, however, shipments for the latter size are becoming scarcer lately. The 30-35,000mtons parcels to India are currently paying about USD high-30s/low-40s, while 35-40,000mtons parcels to China are paying about USD mid-40s, depending on port combination.
The long-haul palm oil market has generated some decent rates during the past month. However, given that the tonnage list for May is longer, unless there is an increase in activity, the positive trend is unlikely to continue. The rates for FOSFA MR ships on a TC Trip Far East/Europe are currently between 15,500-16,500 USD/pd.
Looking into the regional market, it is evident that the increased tax by 14% on India’s palm oil imports has had a significant impact on the country’s buying interest. On the contrary, Malaysia’s decision to suspend export taxes on CPO until the end of April has been partly offsetting the lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Stelios Kollintzas
Specialized Products
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
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Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
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COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
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- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
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